Copart, Inc. (NASDAQ:CPRT) Shares Sold by Caisse DE Depot ET Placement DU Quebec

Caisse DE Depot ET Placement DU Quebec cut its stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 6.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 854,651 shares of the business services provider's stock after selling 60,700 shares during the period. Caisse DE Depot ET Placement DU Quebec owned 0.09% of Copart worth $44,784,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Manning & Napier Advisors LLC purchased a new position in shares of Copart during the second quarter valued at $109,382,000. Kinsale Capital Group Inc. raised its position in shares of Copart by 17.7% in the 3rd quarter. Kinsale Capital Group Inc. now owns 89,979 shares of the business services provider's stock worth $4,715,000 after acquiring an additional 13,554 shares in the last quarter. Cetera Investment Advisers lifted its stake in shares of Copart by 162.9% during the 1st quarter. Cetera Investment Advisers now owns 184,417 shares of the business services provider's stock worth $10,681,000 after purchasing an additional 114,263 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Copart in the second quarter valued at about $5,418,000. Finally, Assenagon Asset Management S.A. grew its position in shares of Copart by 263.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 651,901 shares of the business services provider's stock worth $35,307,000 after buying an additional 472,318 shares during the last quarter. 85.78% of the stock is owned by institutional investors.

Copart Price Performance

NASDAQ:CPRT traded down $0.12 during trading hours on Friday, hitting $63.39. 2,414,853 shares of the company were exchanged, compared to its average volume of 4,717,099. The company's 50 day moving average price is $55.06 and its 200-day moving average price is $53.50. Copart, Inc. has a 52-week low of $46.21 and a 52-week high of $64.38. The stock has a market capitalization of $61.08 billion, a price-to-earnings ratio of 44.64 and a beta of 1.27.

Copart (NASDAQ:CPRT - Get Free Report) last released its earnings results on Wednesday, September 4th. The business services provider reported $0.33 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). Copart had a return on equity of 18.96% and a net margin of 31.92%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the firm earned $0.34 EPS. The company's revenue for the quarter was up 7.2% compared to the same quarter last year. On average, equities analysts predict that Copart, Inc. will post 1.57 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CPRT shares. JPMorgan Chase & Co. raised their target price on shares of Copart from $55.00 to $60.00 and gave the company a "neutral" rating in a research note on Tuesday, November 19th. Robert W. Baird lowered their price objective on Copart from $58.00 to $56.00 and set an "outperform" rating for the company in a research report on Thursday, September 5th.

Insider Activity

In other news, Chairman A Jayson Adair sold 251,423 shares of the company's stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total value of $16,038,273.17. Following the sale, the chairman now owns 14,436,557 shares in the company, valued at $920,907,971.03. This represents a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 9.68% of the company's stock.

About Copart

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.